The government should have no business doing business, Senate Chairman Syed Yousaf Raza Gillani said in an address to a conference on Wednesday. Over 70 presidents of different chambers of commerce and industry, ambassadors and diplomats attended the gathering. In keeping with the “right man right job principle”, the government must play the role of a regulator instead of running businesses
After four consecutive fortnightly price cuts, the major petroleum products — petrol and high-speed diesel (HSD) — are estimated to become costlier by Rs7 and Rs8 per litre, respectively, with effect from July 1 for the next fortnight, mainly because of the higher international market. Informed sources said the prices of petrol and HSD had increased in the international market by about $4.4 and
The stock market witnessed persistent selling pressure amid growing budget-related uncertainties, taking the benchmark KSE 100 index below 78,000 on Tuesday. Ahsan Mehanti of Arif Habib Corporation said the market closed lower amid consolidation in the post-budget session. However, uncertainty about the IMF’s approval of new proposals to relax some tax measures before the approval of the federa
In the post-budget trading session, the Pakistan Stock Exchange (PSX) faced a marginal decline, recording a drop of 291.51 points, amid market consolidation. The day began on an optimistic note, with the KSE-100 index reaching an intraday high of 78,541.21 points. However, this early momentum was short-lived as bearish trends soon dominated the market, reversing the initial gains. Several facto
The government is set to amend the Oil and Gas Regulatory Authority (Ogra) Act aimed at allowing the operator of Energas Terminal to have monopoly over capacity utilistion in a bid to attract investment of $200 million from Qatar. At present, the terminal operator is bound to permit the use of liquefied natural gas (LNG) infrastructure to the third party with the consent of Ogra, meaning anybod